1099-B: Proceeds from Broker and Barter Transactions
Capital gains and losses occur when a taxpayer sells a capital asset such as stocks, bonds, or the sale of you main home. If you received a Form 1099-B from a broker or barter transaction, this is generally reported on a Schedule D as a capital gain or loss.
You can enter your 1099-B information in your TaxSlayer account by going into the Federal Section >> Income >> Enter Myself >> Capital Gains and Losses >> Add/Edit Capital Gain/Loss Items and enter the 1099 B.
* At this time TaxSlayer does not have the option to import your transactions into the program. If you have multiple transactions you will need to enter each one separately in the TaxSlayer program. You may report multiple transactions as one transaction if they are from the same company and the transactions must all be either long term or short term. If they have these commonalities you may choose the latest dates and be sure to report the cost and sale price accurately. Please ensure too keep all records for the IRS regarding these transactions in case the IRS request these documents.
See the table listed below to determine how to report your 1099-B items in the program
How to report
To add additional capital gains and losses after entering your initial item select "Save & Enter Another" or "Add a Capital Gain/Loss".
Total Losses are limited to a $3,000.00 ($1,500 for Married Filing Separately) Capital Loss per year. Any Carryover amount will be automatically calculated and reported on the Capital Loss worksheet.